Author: Mujeedat
An energy expert says Dangote Refinery’s growing reliance on imported crude is making it harder for the plant to recover costs, especially now that some of its petrol sales have shifted to dollar pricing. The shift, he argues, could add pressure to fuel prices and worsen foreign exchange demand in Nigeria. The concern is that the refinery was expected to support cheaper local fuel under the naira-for-crude arrangement, but crude shortages at home have forced it to buy a larger share of feedstock from the international market. Since those purchases are dollar-denominated, selling refined products only in naira becomes more…
Analysts say FCMB Group Plc has entered one of the most important phases in its corporate journey after delivering a sharp improvement in earnings for the year ended December 31, 2025. They say the performance reflects stronger fundamentals, better risk discipline and a business model that is now more resilient and diversified. The group reported profit before tax of ₦202.1 billion, up 81 per cent from ₦111.9 billion in 2024, while profit after tax rose 142 per cent to ₦177.3 billion. Gross earnings also climbed 42.5 per cent to ₦1.13 trillion, underscoring the strength of the bank’s top line…
The Federal Airports Authority of Nigeria has launched the maiden edition of the ICAO Next Generation of Aviation Professionals training at its Training School, in a move aimed at strengthening the agency’s workforce and preparing staff for the future of aviation. The four-day programme, which runs from July 20 to 23, 2026, is focused on talent development, succession planning and professional growth across FAAN’s key operational areas. Participants were drawn from airport operations, aviation security, rescue and fire fighting services, safety, human resources, finance, engineering and other related departments. Speaking on behalf of FAAN Managing Director and Chief…
President Bola Tinubu has appointed former Ekiti State Governor Ayo Fayose as Chairman of the Rural Electrification Agency Board, placing him at the centre of efforts to expand electricity access to rural communities across the country. The appointment is part of a wider package of 26 new nominations spread across 10 federal agencies and commissions. Fayose will chair the REA board alongside two non-executive directors, Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta, while the agency’s Managing Director, Abba Abubakar Aliyu, and three executive directors remain on the board. The move is one of the most notable changes…
By Vera Osokpo Ebullient Lawyer Chief Abdullai Tony Dania has congratulated Oyinkansola Badejo-Okusanya, SAN, FCIArb (UK), on her election as President-elect of the Nigerian Bar Association, saying her win is well deserved. In his goodwill message, Dania also extended congratulations to the newly elected members of the NBA National Executive Committee, expressing confidence that they would help strengthen the legal profession. He called on the incoming leadership to pursue bold reforms that would improve accountability, transparency and efficiency in the association. He recommended a forensic review of NBA administrations over the past 16 years, saying such an…
NLNG has honoured Professor Bart Nnaji for his long-standing contribution to the credibility, governance and global reach of The Nigeria Prize for Science and Innovation. The tribute came at a colloquium marking his 70th birthday, where the company reflected on his role in shaping the prize since its early years. NLNG said Prof. Nnaji has been involved with the initiative since its launch in 2004, when he delivered the keynote address at its inaugural grand award night in Abuja. His early advocacy helped position the prize as a platform for promoting science and technology as tools for national development.…
The Nigeria Revenue Service says its six-month reform drive is already producing measurable gains in tax administration, with stronger automation, improved taxpayer service and tighter oversight. The agency said it has expanded the tax net by using data from banks, the Corporate Affairs Commission and Customs, which helped lift registered taxpayers by about 23 per cent. It also said the new REV 360 platform has simplified tax processes by bringing registration, filing, payment, verification and dispute resolution into one system. According to the Service, about 68 per cent of filings are now done online, while average processing time has…
Minister of Power Joseph Tegbe has said the Productive Use of Energy agenda deserves urgent national attention because it sits at the centre of energy, agriculture, industrialisation, financial inclusion, climate resilience, food security, rural development and job creation. Speaking at a workshop organised by the Rural Electrification Agency, Tegbe said Nigeria’s energy transition should not be seen simply as a matter of extending electricity to rural areas, but as a way of creating opportunity and prosperity. He said electricity becomes truly valuable when it powers productive activities that generate income and jobs. He explained that the real test…
Fidelity Bank Plc has carried out a welfare and infrastructure upgrade at Heritage Homes Orphanage in Anthony Village, Lagos, as part of its employee-led Fidelity Helping Hands Programme. The intervention focused on improving the children’s living conditions, supporting their education and making the facility safer and more comfortable. The project was led by the bank’s Audacious Class of newly inducted employees, who identified the orphanage’s most urgent needs and raised support for the work. The bank matched the funds and helped deliver repairs to the damaged roof and POP ceiling, fumigation of the facility, food supplies and payment of…
By Vera Osokpo The Nigeria Customs Service (NCS) has released N7.61 billion to nine Pension Fund Administrators (PFAs) for payment to 4,237 retirees, as the Comptroller-General of Customs, Adewale Adeniyi, reaffirmed the Service’s commitment to improving the welfare of its retired personnel. Adeniyi disclosed this on Tuesday, 14 July 2026, during a dialogue with retirees of the NCS, where he said the funds had been disbursed to the PFAs for onward payment into the retirees’ individual accounts. According to the breakdown presented at the meeting, Access-ARM Pension Managers accounted for 1,223 beneficiaries, Premium Pension 2,268, Leadway Pensions…